ID: MRFR/A&D/6552-HCR | 94 Pages | Author: Sejal Akre | June 2023
Aviation beacons are indicators to enable pilots to maneuver an aircraft; they also indicate the direction of the runway during the landing of an aircraft. Moreover, these beacons signal pilots and ground operators to proceed or stop at a particular location. aviation beacons technology is a crucial component in the operations of an airport for its efficient functioning.
Growing demand for air travel, leading to an increased number of airports, is the key factor projected to drive the growth of the aviation beacons technology market. Furthermore, factors such as airport modernization programs and growing importance for aviation safety further boost the market growth.
The number of passengers and subsequent air traffic has grown significantly in the recent years; due to this, there has been an increasing requirement of new aircraft to cater to the growing demand. This has stimulated the development of aviation infrastructure across regions thereby, encouraging the global market growth for aviation beacons.
The key players in the aviation beacons technology market are Emerson Electric (US), Avlite Systems (Australia), Flight Light Inc. (US), Point Lighting Corporation (US), Orga BV (Netherlands), Flash Technology LLC (US), TWR Lighting, Inc. (US), Clampco Products Inc. (US), Obelux Oy (Finland), and Unimar Inc. (US).
Segmentation of the Aviation Beacons Technology Market
On the basis of type, the market has been segmented into low light intensity beacons, medium light intensity beacons, and high light intensity beacons. The medium light intensity beacons segment is expected to register the highest CAGR during the forecast period. These beacons are cost effective and are available in various colors, such as amber, yellow, and green.
Based on application, the market has been segmented into airport, aerodrome, runway, and others. The airport segment is expected to be the largest owing to increasing investments in the development of new airports, which is estimated to drive the growth of the global aviation beacons technology market.
Aerodromes are locations where aircraft operations take place. Thus, the aerodrome segment is expected to be the fastest-growing segment due to the increasing number of aircraft purchased by airlines.
Based on region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. The market in Asia-Pacific is expected to register the highest CAGR owing to the substantial increase in the number of passengers availing air travel in countries such as India and China. In addition, the development of new airports in the Asia-Pacific is expected to propel the growth of the aviation beacons technology industry in the region.
The market values and forecast are derived using the MRFR research methodology, which includes secondary research, primary interviews, data triangulation and validation from an in-house data repository, and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
Flash Technology LLC (U.S.), TWR Lighting, Inc. (U.S.), Orga BV (Netherlands), Clampco Products Inc. (US) are the competitors in the global market.
A 21.4 % CAGR is estimated for the market in the forecast period.
The regional market in the Asia Pacific is estimated to guide the global market in the forecast period.
A reasonable income level is forecasted for the market in the upcoming period.
The mounting demand for air travel is estimated to shape the market in the forecast period.
Key Questions Answered
Why Choose Market Research Future?